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Middle E. War / Arab Oil #467263

NBC Evening News for Wednesday, Oct 17, 1973
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(Studio) Middle E. war produces effects all over world. Arab oil producing cntrys. to reduce oil production 5% each month till Israelis withdraw from Arab lands occupied by Israelis since `67. Arab oil producers meet in Kuwait to use oil as political weapon. Oil cut to hurt Japan and west European cntrys. most.
REPORTER: John Chancellor

(Kuwait City, Kuwait) Oil prices to increase 17%, as well as cut in oil exports to Israeli sympathizers. Kuwait and Saudi Arabia not anxious to drop all relations with US; complete oil boycott against United States avoided.
REPORTER: Robert Hager

(Los Angeles, California) Mid. E. oil requirements to run United States outlined. Oil production runs at top speed in US. Elk Hills Naval Reserve only source of oil ready to be tapped by United States immediately. Even then, rationing likely.
REPORTER: Don Oliver

Chancellor, John;
Hager, Robert;
Oliver, Don

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